Washington Trust Advisors Inc. Lowers Holdings in Philip Morris International Inc. (NYSE:PM)

Washington Trust Advisors Inc. decreased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 15.5% in the third quarter, Holdings Channel.com reports. The fund owned 5,618 shares of the company’s stock after selling 1,030 shares during the period. Washington Trust Advisors Inc.’s holdings in Philip Morris International were worth $682,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Woodmont Investment Counsel LLC raised its holdings in Philip Morris International by 1.6% during the third quarter. Woodmont Investment Counsel LLC now owns 5,452 shares of the company’s stock worth $662,000 after purchasing an additional 86 shares in the last quarter. YHB Investment Advisors Inc. boosted its holdings in shares of Philip Morris International by 4.2% in the third quarter. YHB Investment Advisors Inc. now owns 2,158 shares of the company’s stock valued at $262,000 after acquiring an additional 87 shares during the period. Longfellow Investment Management Co. LLC increased its holdings in shares of Philip Morris International by 0.7% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock valued at $1,306,000 after acquiring an additional 88 shares during the period. Dearborn Partners LLC raised its position in Philip Morris International by 3.2% in the 2nd quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock valued at $291,000 after purchasing an additional 89 shares during the last quarter. Finally, Cypress Wealth Services LLC grew its holdings in shares of Philip Morris International by 1.3% during the third quarter. Cypress Wealth Services LLC now owns 6,748 shares of the company’s stock worth $819,000 after buying an additional 89 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Performance

NYSE PM opened at $126.24 on Friday. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15. The stock has a market cap of $196.28 billion, a PE ratio of 20.04, a PEG ratio of 2.19 and a beta of 0.54. The firm has a 50-day simple moving average of $124.21 and a 200 day simple moving average of $112.41.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.09. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The company had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. During the same quarter last year, the business posted $1.67 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis. Research analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.28%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International’s payout ratio is presently 85.71%.

Insider Buying and Selling

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the sale, the insider now directly owns 95,418 shares of the company’s stock, valued at $12,402,431.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the transaction, the chairman now directly owns 959,761 shares in the company, valued at $124,624,965.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Werner Barth sold 7,500 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the transaction, the insider now directly owns 95,418 shares of the company’s stock, valued at $12,402,431.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PM has been the subject of several recent analyst reports. Barclays raised their price target on Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. UBS Group lifted their price objective on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a report on Wednesday, October 23rd. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Bank of America increased their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, The Goldman Sachs Group increased their price objective on Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.85.

Philip Morris International Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.